DSI loans

if by dsi, you mean Daily Simple Interest, then the difference in the two is how your interest is calculated. both are (typically) fixed rate loans, but with a daily simple interest plan, you will pay interest for the number of days elapsed since your last payment, with every payment you make. this can be a big benefit if you with to accelerate your payments at all.

with a standard fixed rate loan, you'll pay the interest earned for the prior month with every payment, regardless of the date on which you make that payment.

How is the best way to pay a dsi loan

Hi micha,

As far as I know, the process to get a daily simple interest (dsi) loan is similar to that of any other loan. You need to contact the local lenders and get pre-approved for the loan. The lender will pre-approve you based on your credit score, your financial situation as well as your debt to income ratio. If you meet the required criteria of the lender, then you will easily get the mortgage.

Thanks,

Jerry

The overwhelming majority of lenders do not use daily simple interest to calculate their loans. Finding one is a matter of shopping around, and, as Jerry noted, if you qualify, they'll let you know.

national asset advisors do the dsi loans & i am under one & have to say they suck!!!!! being ignorant on buying a house i fell into this easy & it i must say is something that i regret now i was just told the other day that with a dsi loan i will more than likely never have the deed to my house bc the interest goes up daily so therefore they can not tell me what i owe on my house total bc it changes every day!! if i cant refinance i will be walking away & chalking it up to experience & filing bankruptcy!! good luck to anyone that has a dsi loan there is a lot they dont tell you until it is to late as in my situation i am just over 2 yrs into it & just had this explained to me fri when i asked how much i still owe!!

Thank you for sharing this in the forums! I'm sure this will help a lot of people to take the right decision.